MIRA INFORM REPORT

 

 

Report Date :

29.09.2014

 

IDENTIFICATION DETAILS

 

Name :

VAANI CASH & CARRY LIMITED

 

 

Registered Office :

8/10 Station Road London E12 5BT

 

 

Country :

United Kingdom

 

 

Financials (as on) :

31.10.2013

 

 

Date of Incorporation :

27.10.2006

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Non – Specialised Wholesale of Food, Beverages and Tobacco

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow but correct

Litigation :

Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

UNITED KINGDOM - ECONOMIC OVERVIEW

 

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Falling home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these included nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of £375 billion (approximately $605 billion) as of December 2013. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase

Source : CIA

 

 

 

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Name:  VAANI CASH & CARRY LIMITED

 

Company Name

VAANI CASH & CARRY LIMITED

Company Number

 

Registered Address

8/10 Station Road London E12 5BT

Trading Address

22 Ullswater Crescent, coulsdon surrey CR5 2 HR

 

 

 

 

 

 

 

 

 

 

 

 

 

Website Address

www.vaanifoods.com

 

 

Telephone Number

-

 

 

TPS

-

 

 

Incorporation Date

27.10.2006

Company Status

Active - Accounts Filed

Previous Name

 

Type

Private limited with Share Capital

Date of Change

-

Filing Date of Accounts

29.07.2014

 

 

Share Capital

£100

SIC03

 

Currency

GBP

SIC07

46390

Principal Activity

Non – Specialised Wholesale of Food, Beverages and Tobacco

 

 

 

DIRECTORS/MANAGEMENT

 

Current Directors

Name

Kanagaratnam Kanendran

Date of Birth

03/11/1967

Officers Title

Mr

Nationality

British

Present Appointments

11

Function

Director

Appointment Date

27/10/2006

 

 

Address

Charter House, 8/10 Station Road, London, E12 5BT

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Kalaivanan Subramaniyam

Date of Birth

24/02/1976

Officers Title

Mr

Nationality

British

Present Appointments

2

Function

Director

Appointment Date

01/07/2013

 

 

Address

22 Ullswater Crescent, Coulsdon, Surrey, CR5 2HR

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Kalaichelvan Subramaniyam

Date of Birth

31/03/1977

Officers Title

Mr

Nationality

British

Present Appointments

1

Function

Director

Appointment Date

01/07/2013

 

 

Address

22 Ullswater Crescent, Coulsdon, Surrey, CR5 2HR

 

Current Company Secretary

Name

Kalaivany Kanendran

Date of Birth

22/09/1965

Officers Title

 

Nationality

British

Present Appointments

3

Function

Company Secretary

Appointment Date

27/10/2006

 

 

Address

Charter House, 8/10 Station Road, London, E12 5BT

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

COMPANY DIRECTORS LIMITED

9352

196298

TEMPLE SECRETARIES LIMITED

11629

198012

 

 

NEGATIVE INFORMATION

 

Mortgage Summary

Total Mortgage                           3

Outstanding                               3

Satisfied                                    0

 

CCJ

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

 

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

 

Total Number of Satisfied CCJs -

0

Total Value of Satisfied CCJs -

 

Total Number of Writs -

-

 

 

 

Exact CCJ Details

No CCJs found

 

Possible CCJs Details

There are no possible CCJ details

 

Writ Details

No writs found

 

Mortgage Details

Mortgage Type:

ALL ASSETS SECURITY AGREEMENT

Date Charge Created:

15/08/12

 

 

Date Charge Registered:

05/09/12

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

FUNDING CIRCLE RECOVERIES LIMITED (THE "SECURITY HOLDER") AS SECURITY AGENT FOR THE VARIOUS LEN

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE BORROWER TO THE LENDERS AND THE SECURITY HOLDER ON ANY ACCOUNT WHATSOEVER

Details:

A FIXED CHARGE OVER THE FOLLOWING PROPERTY OF THE BORROWER OWNED NOW OR IN THE FUTURE, ALL LAND VESTED IN, ALL PLANT AND MACHINERY. ALL THE GOODWILL. ANY UNCALLED CAPITAL SEE IMAGE FOR FULL DETAILS

 

Mortgage Type:

LEGAL MORTGAGE

Date Charge Created:

07/07/08

 

 

Date Charge Registered:

15/07/08

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

CLYDESDALE BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

414-416 HIGH STREET NORTH MANOR PARK LONDON ASSIGNS THE GOODWILL OF ALL BUSINESSES, FROM TIME TO TIME CARRIED ON AT THEPROPERTY, WITH THE BENEFIT OF ALL AUTHORISATIONS, PERMITS, REGISTRATION CERTIFICATES OR LICENCES OF ANY KIND, ALSO BY WAY OF FIXED CHARGE THE EQUIPMENT & GOODS(IF ANY) & ALL OTHER FIXTURES, FITTINGS, PLANT & MACHINERY & BY WAY OF FLOATINGCHARGE ON OTHER MOVEABLE PLANT, MACHINERY,FURNITURE, EQUIPMENT, GOODS & OTHER EFFECTS WHICH ARE FROM TIME TO TIME ON THE PROPERTY SEE IMAGE FOR FULL DETAILS

 

Mortgage Type:

DEBENTURE

Date Charge Created:

05/01/07

 

 

Date Charge Registered:

10/01/07

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

CLYDESDALE BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMSOF THE AFOREMENTIONEDINSTRUMENT CREATING OR EVIDENCING THE CHARGE

Details:

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

 

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

MR KANAGARATNAM KANENDRAN

GBP

100

ORDINARY

1

100

 

 

PAYMENT INFORMATION

 

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade                     0

Total Value of Documented Trade                        £0

 

Trade Payment Information

Average Invoice Value

206.46

Invoices available

19

Paid

17

Outstanding

2

 

 

Within Terms

0-30 Days

31-60 Days

61-90 Days

91+ Days

Paid

2

5

7

2

1

Outstanding

0

0

0

0

2

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Previous Company Names

No Previous Names found

 

Statistics

Group

-

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

-

Ownership Status

 

Ultimate Holding Company

-

 

Group structure

No group structure

 

 

FINANCIAL INFORMATION

 

Key Financials

Year to Date                  Turnover            Pre Tax Profit                Shareholder            Funds Employees

31/10/2013                        -                       -                                 £629,154                     -

31/10/2012                        -                       -                                 £543,100                     -

31/10/2011                        -                       -                                 £458,628                     -

 

Profit & Loss

Date Of Accounts

31/10/13

(%)

31/10/12

(%)

31/10/11

(%)

31/10/10

(%)

31/10/09

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

52

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

-

-

-

-

-

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-

-

Gross Profit

-

-

-

-

-

-

-

-

-

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

-

-

-

-

-

-

-

-

-

Depreciation

£25,214

29.6%

£19,459

138.9%

£8,146

-3.7%

£8,463

-20.2%

£10,605

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

 

Balance Sheet

Date Of Accounts

31/10/13

(%)

31/10/12

(%)

31/10/11

(%)

31/10/10

(%)

31/10/09

Tangible Assets

£1,352,517

1.6%

£1,331,001

2.5%

£1,297,916

-0.2%

£1,300,391

-0.6%

£1,308,854

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

£1,352,517

1.6%

£1,331,001

2.5%

£1,297,916

-0.2%

£1,300,391

-0.6%

£1,308,854

Stock

£707,190

-2.1%

£722,190

90%

£380,080

1.5%

£374,580

-34%

£567,580

Trade Debtors

£828,677

-14.7%

£971,083

6.8%

£909,589

58.2%

£575,140

-9.2%

£633,146

Cash

£299,650

5%

£285,247

85.3%

£153,915

-14%

£179,044

-28.8%

£251,551

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£1,835,517

-7.2%

£1,978,520

37.1%

£1,443,584

27.9%

£1,128,764

-22.3%

£1,452,277

Trade Creditors

£1,599,809

5.2%

£1,521,006

13%

£1,345,431

12.7%

£1,193,936

-20.7%

£1,505,913

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

Total Current Liabilities

£1,599,809

5.2%

£1,521,006

13%

£1,345,431

12.7%

£1,193,936

-20.7%

£1,505,913

Bank Loans & Overdrafts and LTL

£959,071

-23%

£1,245,415

32.9%

£937,441

4.4%

£898,246

-12.9%

£1,031,232

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

£959,071

-23%

£1,245,415

32.9%

£937,441

4.4%

£898,246

-12.9%

£1,031,232

 

Capital & Reserves

Date Of Accounts

31/10/13

(%)

31/10/12

(%)

31/10/11

(%)

31/10/10

(%)

31/10/09

Called Up Share Capital

£100

-

£100

-

£100

-

£100

-

£100

P & L Account Reserve

£629,054

15.8%

£543,000

18.4%

£458,528

36.1%

£336,873

50.5%

£223,886

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

£629,154

15.8%

£543,100

18.4%

£458,628

36.1%

£336,973

50.4%

£223,986

 

 

Other Financial Items

Date Of Accounts

31/10/13

(%)

31/10/12

(%)

31/10/11

(%)

31/10/10

(%)

31/10/09

Net Worth

£629,154

15.8%

£543,100

18.4%

£458,628

36.1%

£336,973

50.4%

£223,986

Working Capital

£235,708

-48.5%

£457,514

366.1%

£98,153

250.6%

-£65,172

-21.5%

-£53,636

Total Assets

£3,188,034

-3.7%

£3,309,521

20.7%

£2,741,500

12.9%

£2,429,155

-12%

£2,761,131

Total Liabilities

£2,558,880

-7.5%

£2,766,421

21.2%

£2,282,872

9.1%

£2,092,182

-17.5%

£2,537,145

Net Assets

£629,154

15.8%

£543,100

18.4%

£458,628

36.1%

£336,973

50.4%

£223,986

 

Cash Flow

Date Of Accounts

31/10/13

(%)

31/10/12

(%)

31/10/11

(%)

31/10/10

(%)

31/10/09

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

Miscellaneous

Date Of Accounts

31/10/13

(%)

31/10/12

(%)

31/10/11

(%)

31/10/10

(%)

31/10/09

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£1,588,225

-11.2%

£1,788,515

28.1%

£1,396,069

13%

£1,235,219

-1.6%

£1,255,218

Number of Employees

-

-

-

-

-

-

-

-

-

Auditors

 

Auditor Comments

The company is exempt from audit

Bankers

 

Bank Branch Code

 

 

 

 

 

 

 

 

 

 

 

Ratios

Date Of Accounts

31/10/13

31/10/12

31/10/11

31/10/10

31/10/09

Pre-tax profit margin %

-

-

-

-

-

Current ratio

1.15

1.30

1.07

0.95

0.96

Sales/Net Working Capital

-

-

-

-

-

Gearing %

152.40

229.30

204.40

266.60

460.40

Equity in %

19.70

16.40

16.70

13.90

8.10

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.70

0.82

0.79

0.63

0.58

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

2.54

2.80

2.93

3.54

6.72

Total Debt Ratio

4.06

5.09

4.97

6.20

11.32

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

 

FOREIGN EXCHANGE RATES

 

N/a

 

 

ADDITIONAL INFORMATION

 

Enquiries Trend

There have been 60 enquiries in the last 12 months.

There are an average of 5 reports taken each month.

 

Show more

Total Current Directors

3

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

2

 

Status History

No Status History found

 

Event History

Date

Description

02/08/2014

New Accounts Filed

08/11/2013

Annual Returns

03/08/2013

New Accounts Filed

09/07/2013

New Board Member Mr K. Subramaniyam appointed

16/01/2013

Annual Returns

08/08/2012

New Accounts Filed

07/11/2011

Annual Returns

09/08/2011

New Accounts Filed

19/11/2010

Annual Returns

13/08/2010

New Accounts Filed

30/12/2009

Annual Returns

23/11/2009

Annual Returns

13/08/2009

New Accounts Filed

10/11/2008

Annual Returns

17/08/2008

New Accounts Filed

 

 NOTES & COMMENTS

 

Commentary

No exact match CCJs are recorded against the company.

A 3.7% decline in Total Assets occurred during the latest trading period.

There has been no significant change in the company's credit rating.

 

There is insufficient data to indicate a change in this company's percentage of sales.

There is insufficient data to indicate a change in this company's pre-tax profit.

The company saw an increase in their Cash Balance of 5% during the latest trading period.

The company is exempt from audit.

No recent changes in directorship are recorded.

The company is not part of a group.

The movement in accumulated earnings would indicate that the company made a profit after tax and other appropriations, including dividends.

The company was established over 7 years ago.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.57

UK Pound

1

Rs.100.42

Euro

1

Rs.78.44

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

PDT

 

               

RATING EXPLANATIONS

 

RATING

STATUS

PROPOSED CREDIT LINE

 

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

 

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

 

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

 

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

 

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

 

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

 

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

Credit not recommended

 

--

NB

New Business

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.